Kyle Samani is the Founder and Managing Partner of Multicoin Capital, a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets. He joins Beezer Clarkson, Partner at Sapphire Partners, and Nick Chirls, Partner at Asylum Ventures, to discuss the philosophies that underpin Multicoin’s investment strategies. He also unpacks how blockchain technologies are already reshaping global finance away from legacy systems and towards embedded trading platforms that will sit within traditional messaging and media platforms.

Learn more about Sapphire Partners: https://sapphireventures.com/sapphire-partners

Learn more about OpenLP: https://openlp.vc

Learn more about Asylum Ventures: https://asylum.vc

Learn more about Multicoin: https://multicoin.capital

Jerry Neumann’s post on markets v. innovation: https://reactionwheel.net/2025/07/a-look-at-growth

For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: subscribe.openlp.vc

CHAPTERS:

0:00 Welcome to Origins

2:43 The Origin Story of Multicoin

7:07 Financially Long & Intellectually Short Bitcoin

8:53 What Is an Internet Capital Market?

19:18 What Happens to Banks?

21:14 What Did You See In Solana?

30:22 The Rise of DATs

36:40 Did Web3.0 Live Up To Its Promise?

Origins host Beezer Clarkson, LP at Sapphire Partners and co-founder of OpenLP, and Nick Chirls, GP at Asylum Ventures, unpack their recent conversation with Sarah Tavel, Partner at Benchmark. Together they discuss their takeaways from Sarah’s recent decision to take a step back at Benchmark to fully focus on AI, getting into the lessons they can learn from that approach and what that means for the future of artificial intelligence. They also discuss the current state of venture in light of this decade’s AI boom, and theorize where this will put the ecosystem in the future.

This episode of Origins is supported by Sydecar. Visit https://sydecar.io/origins-podcast to learn more.

Learn more about Sapphire Partners: https://sapphireventures.com/sapphire-partners

Learn more about OpenLP: https://openlp.vc

Learn more about Asylum Ventures: https://asylum.vc

Learn more about Benchmark: https://benchmark.com

Read Sarah’s Substack Posts: https://sarahtavel.com

For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: https://subscribe.openlp.vc

Sydecar, Inc. (“Sydecar”) has acted as a financial sponsor within this Origins podcast. Sapphire Ventures, LLC (“Sapphire”) is not affiliated with or invested in Sydecar.

CHAPTERS:

0:00 Welcome to Origins

0:48 How Do We Carve Out More Time For Thinking?

3:02 How Are LPs Handling AI Risk?

6:02 Can You Achieve AI Diversity as an LP?

Origins host Beezer Clarkson, LP at Sapphire Partners and co-founder of OpenLP, and Nick Chirls, GP at Asylum Ventures, dig into their recent conversation with Alex Edelson, LP at Slipstream. They discuss whether a spate of recent 100X multiples means we’re living 2021 all over again, why that’s led people to deploy but not fundraise, and the level of curiosity you need to be an exceptional LP.

This episode of Origins is supported by Sydecar.

Visit https://sydecar.io/origins-podcast to learn more.

Learn more about Sapphire Partners: https://sapphireventures.com/sapphire-partners

Learn more about OpenLP: https://openlp.vc

Learn more about Asylum Ventures: https://asylum.vc

Learn more about Slipstream: https://www.slipstreaminvestors.com/

For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: subscribe.openlp.vc

Sydecar, Inc. (“Sydecar”) has acted as a financial sponsor within this Origins podcast. Sapphire Ventures, LLC (“Sapphire”) is not affiliated with or invested in Sydecar.

CHAPTERS:

0:00 Welcome to Origins

2:01 Did We Learn Nothing From 2021?

4:09 High Prices, Quick Deployment

6:31 Venture Lives On Bubbles